The Atal Pension Yojana (APY), a flagship social security scheme of the Government of India administered by the Pension Fund Regulatory and Development Authority (PFRDA), has achieved a historic milestone by surpassing total gross enrolments of nine crore subscribers on 21April,
The Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday approved the continuation of Atal Pension Yojana (APY) up to FY 2030-31 along with the extension of funding support for promotional and developmental activities and gap funding.
Atal Pension Yojana (APY) has achieved a significant milestone by surpassing 8 crore total gross enrolments, the Ministry of Finance said on Friday.
This big milestone of the scheme is coming in its 10th year of rollout of the scheme.
The social security schemes are claimed to have enabled affordable insurance and security to people.
The scheme enrolled more than 1.19 crore new subscribers in 2022-23 as compared to 99 lakh in the last financial year, depicting a growth of more than 20 per cent.
Under the scheme, a subscriber would receive a minimum guaranteed pension of Rs 1000 to Rs 5000 per month from the age of 60 years, depending upon his contribution.
States in the Northeast should consider setting up a database of their residents who are employed as migrant labour.
As of October 27, 2018, the number of APY subscribers from Uttar Pradesh stood at 17.90 lakh, Bihar 11.16 lakh, undivided Andhra Pradesh 11.28 lakh, Maharashtra 10 lakh and Karnataka 9.15 lakh.
He said that more than 13 crore people had availed the Pradhan Mantri Suraksha Bima Yojana.
